Experts Expect Texas to Help Lead the Country Out of its Recession

According to experts, the state of Texas is inching its way out of the recession and is actually taking the lead when it comes to helping the United States with its recovery. In support of this assertion, consider these facts:
* The state experienced a growth rate of 0.2% between May 2009 and May 2010, representing the first time the state has seen job growth in the last 16 months. On the national level, job loss is still being experienced, though at a much lower rate, with a 4% job loss rate in August 2009 compared to 0.4% in May 2010.
* Although the state’s unemployment rate increased to 8.3% in May 2010 compared to 7.5% in May 2009, the country’s unemployment rate rose to 9.7% from 9.4%.
* The government sector as well as the mining and logging, education and health services, professional and business services, leisure and hospitality, and other services industries in Texas have all had more jobs in May 2010 than they did in May 2009. The education and health services industries alone added 59,500 jobs within this time period, with 52,900 of these jobs being within the health care and social assistance industry.
* The state’s mining and logging industry posted an employment growth rate of 4.3% from May 2009 through May 2010 after experiencing 15 months of job losses.
* The state saw an increase of 22,800 jobs in local government as well as 3,600 in state government and 8,700 in federal government from May 2009 to May 2010.
* The state gained 10,600 jobs in the leisure and hospitality industry, which includes recreation, arts, entertainment, food services and accommodations, from May 2009 to May 2010.
* The professional and business services industry saw an increase Brand Cialis of 1,500 jobs from May 2009 to May 2010 after experiencing 17 months of job losses.
* The state’s administrative and support services industry saw an increase of 9,500 jobs from May 2009 to May 2010.
* The management of companies and enterprises industry gained 1,500 jobs from May 2009 to May 2010.
* 13 of the state’s metro areas experienced positive employment growth from May 2009 to May 2010.
While there are still some industries that are struggling and that are experiencing job losses, the overall employment levels in Texas are faring better than many other states throughout the country. It is thanks to its relatively strong economy, job market and housing market that many experts are counting on Texas to help lead the way out of these troubled economic times.

Author Bio: Jim Olenbush works in the Luxury Austin real estate market. His team sells Central Austin Homes for sale, and they are also very experienced with Lakeway waterfront real estate. Jim and his team would love to answer any questions you may have about Austin.

Category: Culture and Society/Current Affairs
Keywords: recession, texas, economy, employment, jobs

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